The Société Générale branch opened two branches in the working-class districts of the Senegalese capital in order to strengthen its ties with its clientele, mainly from the informal sector.
Dakar residents should expect to see more green mopeds flanked by the “Manko” logo in the coming weeks.
In a statement released on Friday, the Société Générale subsidiary announced the opening of two new Manko branches in Grand Yoff and HLM Colobane, two working-class neighborhoods in the Dakar capital, as Jeune Afrique unveiled last March.
Launched in 2013 with an office in Pikine, near Dakar, Manko specializes in financial services to populations working in the informal sector.
Societe Generale’s subsidiary, which has the status of intermediary in banking operations (BIO), has built a strategy based on an innovative distribution network. Its sales representatives criss-cross Dakar’s neighborhoods by motorbike in order to offer small entrepreneurs and merchants a simple banking offer (current account, savings account, visa card, consumer credit, credit, insurance).
A simple strategy which, in two years, has enabled Manko to attract around 4,500 customers, for 5.8 billion CFA francs in loans (around 8.8 million euros) disbursed.
For the start-up of its two new branches, Manko has teamed up with the Senegalese start-up Obertys, specializing in financial technologies, to launch a tool for carrying out credit analysis on a digital tablet.
“Manko now offers its customers the opportunity to stay at their place of business to open their account,” announces Societe Generale, which welcomes the time saved for the establishment and for the customer.